JPMorgan Asset-Management Arm Buys $5.3 Billion Forest Investor
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JPMorgan Chase & Co.’s asset-management arm agreed to purchase Campbell Global LLC, which focuses on timberland and natural resources and has $5.3 billion in investments, as the bank bets on the growth of carbon-offset markets.
Campbell Global, part of BrightSphere Investment Group, manages more than 1.7 million acres (690,000 hectares) worldwide with 150-plus employees, the companies said Monday in a statement. All of the firm’s employees will remain with Campbell, which will stay headquartered in Portland, Oregon. Financial terms of the transaction, expected to be completed in the third quarter, weren’t disclosed.